India Emerges as Third Largest Startup Economy Globally

India ranks third globally in startups, declared by Dr. Omkar Rai at the 'SOA E-Summit-2024' in Bhubaneshwar.

By Sunil Sonkar
2 Min Read
India Emerges as Third Largest Startup Economy Globally

India holds a significant position in the world with respect to startup economy. It has been ranked third as announced by Dr. Omkar Rai, Executive Chairman of Start-up Odisha, while addressing the ‘SOA E-Summit-2024’ at Siksha ‘O’ Anusandhan Deemed to be University (SOA) in Bhubaneshwar.


Dr. Rai emphasized importance of student engagement in startups in the country. He encouraged them to explore entrepreneurship and become job providers instead of becoming job seekers. He highlighted the vast opportunities which startups offer and students should turn their ideas into profitable ventures with minimal investment.

The event was jointly organized by the Atal Incubation Centre-SOA Foundation and Centre for Innovation and Incubation (SOA-CII) at the Institute of Technical Education and Research (ITER). It simultaneously witnessed inauguration of a startup expo and a 24-hour idea prototype hackathon by Dr. Rai.

Dr. Rai further revealed that currently Odisha boasts 1940 recognized startups in agriculture, artificial intelligence, automotive, education, energy and some more sectors. This reflects the growing entrepreneurial ecosystem in the state.

SOA’s Vice-Chancellor, Prof. Pradipta Kumar Nanda, expressed pride in hosting the E-Summit. He marked it as a significant step towards strengthening innovation and entrepreneurship among students. He simultaneously highlighted SOA’s commitment to nurturing talent as well as promoting innovation across various disciplines.

Prof. Nanda highlighted the Atal Incubation Centre’s emerging prominence of the university. He cited recent recognition from IIT-Hyderabad for innovative projects in agriculture and dental sciences.

The E-Summit served as a platform for networking and collaboration. It brought together students, startups and industry experts. The attendees exchanged ideas and explored opportunities. It showcased the potential of startups to drive socioeconomic development and also create employment opportunities in India and beyond.

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